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Cisco to Cut Workforce by 9% & Sell Mexican Unit

Jul 19, 2011
  • Cisco, the world’s largest maker of computer networking equipment, will cut its workforce by as much as 9%, trimming 6,500 jobs.
     
  • Cisco is facing increased competition, and said it needs to overhaul the way it operates and focus on core businesses. 
     
  • Chief executive officer John Chambers said earlier this year that Cisco would look to exit non-performing or less profitable businesses, and refocus on its core networking operations. 
     
  • As part of the planned job cuts, 15% of employees who are at vice-president level and above will be trimmed. Cisco said that 2,100 employees of the planned 6,500 have elected for a voluntary early-retirement programmed.

Click here to read the full article

Source: http://www.bbc.co.uk/news/business-14181332

 

What does this mean for you? – Choose your telecommunications solution carefully!

 

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